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Sub No.2:-Net Profit allocation for the F.Y 2022-23 as per Bye-Law No.(40)
Roc.No.EB01/70/TTD ECCS/2024
As per Audited Balance sheet of the Society for the FY 2022-23 certified by the
District Cooperative Audit Officer, Tirupati on 30-12-2023. As per Balance Sheet of the
Society, earned Net Profit for Rs.6,84,73,645.76 for the FY 2022-23.
In pursuance of the Bye-Law No.(40), registered by the District Cooperative
Officer (DCO), Tirupati vide RC No.626/2023,D1, Dated 04-07-2023, the appropriation
of profits under section 45 and Rule 36 of APCS Act & Rules1964, as detailed below.
The society shall, subject to such limits as may be prescribed from time to time 1%
of gross profit to Cooperative Education Fund.
The society shall credit an amount not more than 30% of Gross Profit or 2% of Working
Capital, whichever is less to the Administrative and Contingent Fund.
1) 25 % of Net Profit shall be transferred to the Reserve Fund.
2) 5% of Net Profit as Bad Debts Reserve.
3) 50% of Net Profits shall be credited towards Dividend to the members on their
paid-up Share Capital.
The balance of Net Profits shall be transferred to the following reserves.
4) 15% of Net Profit shall be credited to the Members Welfare Fund
5) 5% of Net Profit shall be deposited towards Building Fund.
All un-disbursable and invisible profits shall be added to the Reserve Fund.
In accordance with the Bye-Law No.(40), worked out the Net Profit for
Rs.6,84,73,645.76, for the FY 2022-23 as detailed below:
Sl.No Name of Reserve Percentage Amount Rs.
1. Reserve Fund 25% 1,71,18,411.44
2. Bad Debts Reserve 5% 34,23,682.28
3. Dividend 50% 3,42,36,822.88
4. Members Welfare Fund 15% 1,02,71,046.86
5. Building Fund 5% 34,23,682.30
Total 100% 6,84,73,645,76
The sum of Rs. 3,42,36,822.88 towards Dividend is worked out on paid up
share capital as per above table furnished here under:
Percentage on paid up Amount Rs.
Sl.No
Share Capital
1. 15.00% 3,27,67,643.00
2. 15.67% 3,42,31,264.39
3. 16.00% 3,49,52,152.53
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